USD shooting up to $80.33

$29 silver.  yep, i blinked and i missed it too.

i bought all my silver btwn $9 and $12 too!  brilliant minds think alike!  can't wait to do it again!

Assembly technician included?

It'd still be better than SolidCoin...


I'm pretty certain that Bitcoin will take off when the reigns holding physical gold & silver back are loosed.


As long as the buying is being done from a country so obscure that nobody can point it out on a map...

Since this conversation has drifted a way from needling jabs (however briefly) I'll elaborate on some of my concepts and strategies.

If Bitcoin 'goes' (and as I've said a million times, I consider that to be a huge 'if') and if one is just interested in increasing one's net worth, it won't really matter whether one has 200 BTC, 2000 BTC, 20,000 BTC or 200,000 BTC.  One will be stupidly 'rich' in any case.  So I personally don't see any point in being overly heavy in BTC to achieve the goal of getting 'rich'.  YMMV.

(I think that) When one gets to a certain plane, the amount of USD or gold or Bitcoin one controls means little in relation to 'wealth'.  'Wealth', in my opinion, means having the ability to control and shape events on a grand scale.  Gates, Buffet, Bernanke, and Obama are all very 'wealthy' men...they just came to their wealth through different paths, and the wealth that they enjoy is variably transient in that it will subside for the latter two more readily than it will for the former two by virtue of the differences in the backing stores that these parties maintain.

The reason to obtain many thousands of Bitcoin would be to be able to control and shape events in the Bitcoin economy in case that Bitcoin takes off (without needing to be able to write code that people like.)  Having that ability is worth only so much to me in terms of opportunity cost.  Again (and to all readers) 'YMMV'.

I suggest, as you have, that like most economies the Bitcoin economy is highly complex.  Someone who would wish to manipulate it's direction could have that desire for all kinds of reasons.  I have at least fooled myself into thinking that the direction(s) I would like to see it go are generally advantageous to 'the 99%' (for lack of a better description.)  I believe I would trade a total personal loss of my position if it meant that these dreams are facilitated, but I would never know unless I had to make the choice and it is very unlikely that I ever will.

---

On a totally different tangent, you might remember our discussions about the legal ramifications of the MF Global debacle.  Somewhere else in at least one of my 1000 posts I mentioned hearing that in the case of a bankruptcy, derivatives positions take priority over all other creditors.  (I believe I heard that from Denninger at market-ticker.org who has an uncanny ability to find interesting tidbits of info early...and can apparently set up a DNS server to boot.)

You may be interested in this recent Lyster show, particularly at around the 15 or 16 minute mark:

  http://www.youtube.com/watch?v=Uv_ERsZRnkw

i was just going to write a big long response to your lazy ass accusation but i think this is better.  while tvbcof considers alot of posts by me a liability, i consider it an asset, as i can easily point back in time to prove what i say.  these are in chronological order top to bottom.  remember silver topped 4/28/11:

https://bt.irlbtc.com/view/5540.msg82056#msg82056

https://bt.irlbtc.com/view/5540.msg82062#msg82062

https://bt.irlbtc.com/view/6202.msg93588#msg93588

https://bt.irlbtc.com/view/6452.msg96613#msg96613

https://bt.irlbtc.com/view/6322.msg99806#msg99806

https://bt.irlbtc.com/view/6322.msg99815#msg99815

https://bt.irlbtc.com/view/7891.msg116808#msg116808

https://bt.irlbtc.com/view/7891.msg116814#msg116814

https://bt.irlbtc.com/view/8845.msg130768#msg130768

I have trouble watching any of her shows - the only things I remember after half an hour are her lips & legs...

In all seriousness, yes - virtually every piece of bank-sponsored legislation fully favours the banks themselves and has an eventual counter-productive result of pushing clients away; this bit regarding derivative holder priority is no different. What's changed from past decades of clients (esp. high net worth ones) putting up with this progressive encroachment is that they're finally deciding that the risk (now exceeding 100% loss of capital because not only is can funds me lost, but punitive legal measures can follow in addition to having lost everything in the first place!) of participating in a system where the rules are so thoroughly stacked against them is too great in respect to the potential return.

Cyph: Yes, I do have a big fat lazy ass and I didn't research all the message you posted before.  In these posts you indicated it was accumulated much early on its way up.  That's entirely possible.

By just reading your previous post, it's easy to think you bought your physicals during the "big dip" with the cost of $9~$12; There was a way to do it (besides taking delivery of futures contract), but very few people did it. So I wasn't really accusing you of lying.